Direct costs of a workplace accident/incident include:
- Payment to workers,
- Workers’ compensation payments,
- Medical expenses, and
- Costs for legal services.
Businesses paid an additional $127 billion to $212 billion of indirect costs in 2006.*
Indirect costs of a workplace accident/incident include:
- Replacement workers,
- Damaged property,
- Accident investigation,
- Corrective action,
- Delays/lost productivity,
- Low employee morale,
- Increased absenteeism, and
- Poor customer/community relations.
The total financial impact of serious workplace incidents is between $170 and $255 billion annually.*
*Liberty Mutual 2008 Workplace Safety Index